Regulatory Alerts2023-08-19
Added · Updated
Central Bank of Jordan Circular on Renewable Energy Financing for SMEs
The Central Bank of Jordan amended the loan ceiling for renewable energy projects targeting small and medium-sized enterprises under its financing program from 250,000 Dinars to 350,000 Dinars. This directive applies to all licensed banks and maintains all previously established conditions from the September 2016 circular. The change became effective immediately upon the issuance of the circular on May 3, 2018.
Central Bank of Jordan CENTRAL BANK OF JORDAN
Reference No.: 6/3 6485 Date: 17 Sha'ban 1439 AH Corresponding to: 03 May 2018 AD
Circular to All Licensed Banks
Greetings,
Further to our Circular No. (12042/4) dated 2016/09/08 regarding our approval of the request by the Renewable Energy and Energy Efficiency Fund to include projects targeted by the Fund exclusively for individuals, households, and small and medium-sized enterprises through the Central Bank's program for financing and supporting economic sectors. In this regard, it has been decided to amend the loan ceilings for energy projects for small and medium-sized enterprises benefiting from the program to become (350,000) Dinars instead of (250,000) Dinars, with all conditions stated in the previous circular remaining unchanged.
Effective from its date.
Governor Dr. Ziad Frieze
In the Name of Allah, the Most Gracious, the Most Merciful
Central Bank of Jordan CENTRAL BANK OF JORDAN 100 Great Arab Revolt Centennial Renaissance
Reference No.: 4/ 13024 Date: 06 Dhu al-Hijjah 1437 AH Corresponding to: 08 September 2016 AD
Circular to All Licensed Banks
Greetings,
With reference to our approval of the request by the Renewable Energy and Energy Efficiency Fund to include projects targeted by the Fund exclusively for individuals, households, and small and medium-sized enterprises within the Medium-Term Loans Program for Licensed Banks, with the aim of financing renewable energy projects. In this regard, please be informed of the following:
- The loan size for individuals and households shall not exceed (3,000) Dinars, and for small and medium-sized enterprises shall not exceed (250,000) Dinars.
- Targeted entities shall submit a loan application to banks affiliated with agreements with the Fund.
- Banks, in turn, shall review the submitted applications and ensure they meet the Central Bank's conditions (Medium-Term Loans Program conditions).
- Banks shall compile applications that meet the program's conditions and send them to the Bank periodically every two weeks via a letter signed according to regulations by the Bank and the Jordanian Company for Loan Guarantee, after the banks have provided the financing in advance using their own funds.
Effective from its date.
Governor Dr. Ziad Frieze
Form (1/1-17/10) P.O. Box 37 • Amman 11118 Jordan • Tel: 4630301 Fax: 4638889, 4638724 • Website: www.cbj.gov.jo • Email: info@cbj.gov.jo